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Posted in Student Loans
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AJC360

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student loans and credit score

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Federal Student Loans and Credit Score

In 2015, I deferred my student loan because I resumed my studies in college. My loan provider informed me that the interest will continue to accrue as the loan is in deferment. Additionally, I learned that my credit score will decrease when the interest accrue on my loan. Currently, I am making payments on my deferred loan in order to minimize the interest. Will my credit score increase as I am making payments on the loan?

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I would assume so, since you are decreasing balances.

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